Getting Hacked and Losing Your Crypto with Nik Patel
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In the second episode of The What Bitcoin Did Podcast, I chat with popular Crypto trader @daytradernik in detail about how he was hacked earlier this year, losing two-thirds of his portfolio and how he has bounced back. Nik also explains his approach to trading strategy, covering topics such as micro-cap trading, comparisons with trading forex and hedging his investments with Silver.
Breakdown of the show
00:04:36: Introductions
00:05:17: Nik's background
00:08:35: Getting hacked
00:14:53: Nik's book and Patreon funding
00:16:32: The BTC community steps up
00:19:40: Security advice…
00:20:27: … U2F keys
00:21:03: … detach your phone number from emails
00:22:04: … scams
00:23:35: … Ponzi schemes
00:24:17: Tether
00:25:59: Nik's trading strategy
00:27:46: Silver
00:34:13: Nik's portfolio preferences
00:36:35: Some trading terms explained
00:37:57: Technical analysis tips
00:41:01: Signals on Telegram
00:42:34: Margin trading
00:46:01: Recommended Twitter accounts
00:47:22: Buy and sell walls
00:53:03: Forks and ICOs
01:00:34: Final comments
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SHOW NOTES
Connect with Nik:
His Telegram group
Contribute to his book via his Patreon page
Security resources:
Read @notsofast's SteemIt article on Crypto security
Get a U2F key for your Gmail accounts
Have a different Gmail account for each exchange
Different passwords for every account - using a password manager for this makes it easy
VirusTotal scan wallets before running them, and run in a sandbox or on a VM where possible.
Encrypt local wallets
Backup everything on an encrypted USB
Recommended resources:
Nik's Medium article discussing how to pick micro-caps
Chris Burniske 's book: Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond
Banking on Bitcoin documentary on YouTube
Inner Circle's YouTube videos
Laura Shin's podcast Unchained, where she interviews Raval Navikant
Where Nik talks about patience I made a video about this
Crypto Street podcast where @notsofast is interviewed
Where to buy silver:
The silver chart Nik mentioned in the interview
Twitter people to follow:
Other people mentioned in the show:
THANKS
Jason Camiolo for audio production, his website is at http://www.jasoncamiolo.com/